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2025 00253
<br />If Buyer obtains any form of insurance coverage, not otherwise required by Seller, for damage to, or destruction of,
<br />the Property, such policy shall include a standard mortgage clause and shall name Seller as mortgagee and/or as an
<br />additional loss payee and Buyer further agrees to generally assign rights to insurance proceeds to the holder of the
<br />Note up to the amount of the outstanding debt balance.
<br />In the event of loss, Buyer shall give prompt notice to the insurance carrier and Seller. Seller may make
<br />proof of loss if not made promptly by Buyer. Unless Seller and Buyer otherwise agree in writing, any insurance
<br />proceeds, whether or not the underlying insurance was required by Seller, shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and Seller's security is not lessened. During such
<br />repair and restoration period, Seller shall have the right to hold such insurance proceeds until Seller has had an
<br />opportunity to inspect such Property to ensure the work has been completed to Seller's satisfaction, provided that
<br />such inspection shall be undertaken promptly. Seller may disburse proceeds for the repairs and restoration in a single
<br />payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or
<br />Applicable Law requires interest to be paid on such insurance proceeds, Seller shall not be required to pay Buyer
<br />any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Buyer shall
<br />not be paid out of the insurance proceeds and shall be the sole obligation of Buyer. If the restoration or repair is not
<br />economically feasible or Seller's security would be lessened, the insurance proceeds shall be applied to the sums
<br />secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Buyer. Such insurance
<br />proceeds shall be applied in the order provided for in Section 2.
<br />If Buyer abandons the Property, Seller may file, negotiate and settle any available insurance claim and
<br />related matters. If Buyer does not respond within 30 days to a notice from Seller that the insurance carrier has
<br />offered to settle a claim, then Seller may negotiate and settle the claim. The 30-day period will begin when the
<br />notice is given. In either event, or if Seller acquires the Property under Section 22 or otherwise, Buyer hereby
<br />assigns to Seller (a) Buyer's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under
<br />the Note or this Security Instrument, and (b) any other of Buyer's rights (other than the right to any refund of
<br />unearned premiums paid by Buyer) under all insurance policies covering the Property, insofar as such rights are
<br />applicable to the coverage of the Property. Seller may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Buyer shall occupy, establish, and use the Property as Buyer's principal residence within 60
<br />days after the execution of this Security Instrument and shall continue to occupy the Property as Buyer's principal
<br />residence for at least one year after the date of occupancy, unless Seller otherwise agrees in writing, which consent
<br />shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Buyer's control.
<br />This Paragraph SHALL NOT APPLY if initialed by Buyer and Seller here:
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Buyer shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not
<br />Buyer is residing in the Property, Buyer shall maintain the Property in order to prevent the Property from
<br />deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or
<br />restoration is not economically feasible, Buyer shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking
<br />of, the Property, Buyer shall be responsible for repairing or restoring the Property only if Seller has released
<br />proceeds for such purposes. Seller may disburse proceeds for the repairs and restoration in a single payment or in a
<br />series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
<br />to repair or restore the Property, Buyer is not relieved of Buyer's obligation for the completion of such repair or
<br />restoration.
<br />Seller or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable
<br />cause, Seller may inspect the interior of the improvements on the Property. Seller shall give Buyer notice at the time
<br />of or prior to such an interior inspection specifying such reasonable cause.
<br />8. Buyer's Murabaha Debt Application. Buyer shall be in default if, during the Murabaha Debt
<br />application process, Buyer or any persons or entities acting at the direction of Buyer or with Buyer's knowledge or
<br />consent gave materially false, misleading, or inaccurate information or statements to Seller (or failed to provide
<br />Seller with material information) in connection with the Murabaha Debt. Material representations include, but are
<br />not limited to, representations concerning Buyer's occupancy of the Property as Buyer's principal residence.
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